Twitter on Tuesday announced the acquisition of blog-posting service Posterous. Terms of the sale were not disclosed.
Posterous started in 2008 thanks to help from the Y Combinator service and in September 2011 the company launched Space which gave users more control over their content while helping the site increasing engagement.
According to the Posterous blogo:
“Four times as many photos and five times as many videos are shared on private Spaces as on public Spaces.”
Posterous not only grabbed the attention of Twitter, it has been successful in raising funding including $5 million from Redpoint Ventures and Jafco Ventures. That investment took the company’s overall haul to $10.1 million since 2008.
News of the sale comes just one month after Posterous said it had “absolutely no plans to sell.”
Changing its tune executives at the company wrote:
“We couldn’t be happier about bringing our team’s expertise to a product that reaches hundreds of millions of users around the globe.”
In a blog post of its own Twitter reps wrote:
“We’re always looking for talented people who have the passion and personality to join Twitter. Acquisitions have given us people and technology that have enabled us to more quickly build a better Twitter for you.”
Twitter doubled its staff in 2011 from 450 to more than 900 people while still looking for new ways to earn revenue from its massive user base that now exceeds more than 100 million users.
Do you think the Posterous acquisition was a smart move on behalf of Twitter?